- Bernstein analyst Cherry Leung initiated coverage of DiDi Global Inc DIDI with an Outperform rating and $6.20 price target, implying an upside of 55.4%.
- Leung said that the company's "regulatory storm is largely over," and it is also working to increase license compliance.
- The analyst believes having the Chinese government as a shareholder will help build the market's confidence in the shares, especially its governance oversight.
- Didi maintains a "sturdy leadership position during new customer suspension," contends Leung.
- Price Action: DIDI shares traded higher by 2.76% at $4.08 in the premarket on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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